Volvo Eicher Slashes Truck and Bus Prices by Up to ₹6 Lakh After GST Rate Cut

VECV has informed that the electric segment vehicles included in the portfolio will continue to attract 5% GST rate, hence no change has been made in their price.

Volvo Eicher has informed that it will implement the new prices from September 22. After which, the manufacturer's trucks and buses can be purchased at the new price across the country.

Vinod Aggarwal, MD and CEO, Volvo Eicher Commercial Vehicles, said that we express our heartfelt gratitude to the Hon'ble Prime Minister, Hon'ble Finance Minister and GST Council for this historic decision to reduce GST on trucks and buses from 28% to 18%. In line with the vision of the Hon'ble Prime Minister, this reform provides timely relief after a period of slowdown in sales and rising input costs in the CV sector.

The central government had decided in the GST Council meeting that the GST slab on vehicles would be changed. After which the price of most vehicles has been reduced.

Apart from VECV, many other manufacturers have also changed the prices of their cars. These include manufacturers like Mercedes Benz, Audi, Hyundai, Tata, Mahindra, Skoda, Toyota, Nissan, MG, Volkswagen, Honda.